Assessment Matters by Valuebase.co

22: John Wilson - The Future of Commercial Real Estate and Aerial Imagery

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In this episode, we're joined by Assessor John Wilson of King County, Seattle to talk about the future of commercial versus residential real estate, the power of aerial imagery, as well as other new trends in the assessment field:

We cover:

  • Introduction to Assessment Matters podcast 00:00

  • John’s background 00:35

    • Derrick’s experience in broadcast journalism, government, and assessment

    • The importance of property taxation/assessment in funding local government

    • How has the field changed in the last 10 years? 2:04

      • Unexpected exogenous shocks: global pandemic, inflation

      • Overheated housing market

      • Commercial vs residential — how WFH has changed the market

      • The future of commercial real estate 4:58

        • Downward trend

        • The difficulties of commercial to residential conversions

          • What can we do about housing affordability? 6:12

            • Identifying opportunities for new housing to address immediate needs

            • Streamlining housing permitting and construction

            • New building techniques and products

            • Derrick’s IAAO panel: “See More From the Air” 8:33

              • The benefits of aerial imagery: accuracy, efficiency

              • Comparing aerial vs ground observation

              • Identifying potential novel land uses

              • Assessing damage from natural disasters

              • Competition in the aerial imagery industry 11:14

                • Balloons, drones,  etc.

                • Improved cost-effectiveness 

                • Other technologies 12:18

                  • Artificial Intelligence (AI) and Machine Learning (ML)

                  • Data beyond evaluation and assessment 

                  • Advice for industry newcomers 14:29

                  • Parting advice 15:21

                    • ...more
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                    Assessment Matters by Valuebase.coBy Will Jarvis